Alaska governor seeks to cut unemployment tax

JUNEAU, Alaska (AP) -- Alaska Gov. Sean Parnell is seeking to reform the unemployment tax law.

He told lawmakers gathered in Juneau for his annual State of the State address that the tax burden on Alaskans and Alaska employers needs to be reduced.

The state took in an additional $20 million last year in unemployment insurance contributions even though he says the fund was funded.

He wants to create a formula to determine if the fund is solvent. If so, he wants to cut unemployment taxes.